Fisherman wrote:
A curiosity question. It's an annual thing these hurricanes. Knock my house down or flood it once, ok, I'll rebuild it. Do it on an annual basis and why would anyone want to live there knowing you're going to get your butt kicked over and over.
Cousin had a nice beachfront home and very large yard and access to beach. Storms and tide destroyed it twice...and Federally subsidized insurance rebuilt it twice including the furnishings.
In North Carolina, as elsewhere, we looked at some beachfront properties but...if the storms took them out there was no rebuilding allowed and of course no insurance against storm damage.
Prices were cheap if you could get financing.
Most buildings, condos, homes etc are rent properties now, owned by people who may never visit them. The incomes from renting are high and the insurance is a business expense. We subsidize the owners through the insurance.
We thought about buying on the beach when i was still able to work but realized it would be a huge expense for two or thee weeks or even four a year. Most who own do not live there or use them that much after the initial joy? of owning the home on an ocean beach.
We didn't consider renting for profit and our use back then.
Yes. the Owners keep the business cards of their last builder, as they know they will more than likely have to rebuild, and they are any good.
